Gold Prices See Slight Dip in India on July 7: Delhi Tops City-Wise Rates
Gold prices in India experienced a slight decline on Monday, July 7, reflecting global market trends influenced by easing trade tensions. According to current data, 24-carat gold is priced at ₹98,993 per 10 grams, while 22-carat gold stands at ₹90,763 for the same quantity. This marks a marginal decrease in rates, with 22-carat gold down by ₹10 per 10 grams compared to previous levels.
Among major Indian cities, Delhi recorded the highest rate for 24-carat gold at ₹98,993, closely followed by Mumbai at ₹98,847 and Kolkata at ₹98,845. Chennai and Bengaluru reported slightly lower prices at ₹98,841 and ₹98,835, respectively. In the case of 22-carat gold, Delhi again led with the highest price at ₹90,763, followed by Pune at ₹90,623 and Chennai at ₹90,611. Kolkata’s rate stood at ₹90,615, while Bengaluru recorded the lowest price at ₹90,605.
The marginal decline in domestic gold prices is aligned with trends in the international market. On Monday, global spot gold prices fell by 0.6% to $3,314.21 per ounce, while U.S. gold futures also dipped by 0.6% to $3,322, according to Reuters. The price drop was attributed to easing investor concerns after U.S. President Donald Trump signaled progress on several trade agreements. Trump’s comments on extended tariff reprieves and upcoming trade deals led to reduced demand for gold, traditionally considered a safe-haven asset during times of geopolitical or economic uncertainty.
Trump also confirmed that official communications regarding tariffs and trade deals would be sent out to various countries beginning Monday. Notably, a 10% base tariff imposed in April—along with additional duties up to 50%—had been postponed for most nations until July 9, contributing to optimism in global markets.
With international pressures influencing the local bullion market, experts suggest that gold prices in India may continue to fluctuate in the short term. Buyers and investors are advised to monitor geopolitical developments and currency movements closely in the coming days.
